Eads & Heald Investment Counsel decreased its stake in shares of Edwards Lifesciences Corp. (NYSE:EW) by 10.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,618 shares of the medical research company’s stock after selling 622 shares during the period. Eads & Heald Investment Counsel’s holdings in Edwards Lifesciences Corp. were worth $560,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Ngam Advisors L.P. boosted its position in Edwards Lifesciences Corp. by 15.2% in the first quarter. Ngam Advisors L.P. now owns 22,216 shares of the medical research company’s stock valued at $1,960,000 after buying an additional 2,932 shares during the period. Aviva PLC raised its stake in Edwards Lifesciences Corp. by 1.5% in the first quarter. Aviva PLC now owns 109,425 shares of the medical research company’s stock valued at $9,652,000 after buying an additional 1,667 shares in the last quarter. Credit Agricole S A raised its stake in Edwards Lifesciences Corp. by 38.5% in the first quarter. Credit Agricole S A now owns 573,094 shares of the medical research company’s stock valued at $50,552,000 after buying an additional 159,454 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Edwards Lifesciences Corp. by 270.0% in the first quarter. Canada Pension Plan Investment Board now owns 379,592 shares of the medical research company’s stock valued at $33,484,000 after buying an additional 277,000 shares in the last quarter. Finally, BB&T Securities LLC purchased a new stake in Edwards Lifesciences Corp. during the first quarter valued at $234,000. 84.09% of the stock is currently owned by hedge funds and other institutional investors.
Edwards Lifesciences Corp. (NYSE:EW) traded down 1.83% during midday trading on Friday, hitting $116.49. The stock had a trading volume of 1,036,413 shares. Edwards Lifesciences Corp. has a 12-month low of $72.20 and a 12-month high of $121.75. The firm has a 50-day moving average of $117.79 and a 200-day moving average of $108.00. The company has a market cap of $24.80 billion, a PE ratio of 48.14 and a beta of 0.56.
Edwards Lifesciences Corp. (NYSE:EW) last posted its quarterly earnings data on Tuesday, July 26th. The medical research company reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.06. Edwards Lifesciences Corp. had a return on equity of 23.72% and a net margin of 19.26%. The company earned $759.30 million during the quarter, compared to analyst estimates of $724.26 million. During the same period in the previous year, the business earned $0.57 EPS. Edwards Lifesciences Corp.’s quarterly revenue was up 23.1% on a year-over-year basis. Equities research analysts forecast that Edwards Lifesciences Corp. will post $2.88 EPS for the current year.
EW has been the topic of several analyst reports. Morgan Stanley boosted their target price on Edwards Lifesciences Corp. from $110.00 to $140.00 and gave the stock an “overweight” rating in a report on Wednesday, July 27th. Zacks Investment Research raised Edwards Lifesciences Corp. from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Tuesday, August 16th. JMP Securities boosted their target price on Edwards Lifesciences Corp. from $125.00 to $130.00 and gave the stock a “market outperform” rating in a report on Thursday, July 28th. Canaccord Genuity reissued a “buy” rating and issued a $140.00 target price on shares of Edwards Lifesciences Corp. in a report on Thursday, August 18th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Edwards Lifesciences Corp. in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the stock. Edwards Lifesciences Corp. presently has an average rating of “Buy” and a consensus price target of $118.13.
In other news, CEO Michael A. Mussallem sold 49,100 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $113.31, for a total value of $5,563,521.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Huimin Wang sold 13,650 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $113.03, for a total value of $1,542,859.50. The disclosure for this sale can be found here. Company insiders own 2.37% of the company’s stock.
About Edwards Lifesciences Corp.
Edwards Lifesciences Corporation is focused on technologies that treat structural heart disease and critically ill patients. The Company manufactures heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve. It develops hemodynamic monitoring systems used to measure a patient’s cardiovascular function in the hospital setting.
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